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The Concept Of Too Big To Fail Obviously Has Been Proven Wrong

It’s Friday desk clearing time for this blogger. “Glenn Kelman — Redfin’s Chief Executive Officer: ‘Our fourth quarter net income, a loss of $27 million, was better than we projected in our last earnings call. Based on anecdotes from the Redfin employees making offers, the price range of competitors’ bids is narrower. When we lost a bid last summer, we sometimes lost by $50,000. But now when we lose, it’s more likely to be like $5,000.'”

“The prices for the property that has sold has skyrocketed in the last couple of years, Jim Hickey with Engel & Völkers Real Estate in Jackson Hole, told Cowboy State Daily. ‘We sold single family homes, or single family homes on some acreage, and then literally six months later, or not even a quarter later, similar property might come up … $100,000 or more in price,’ Hickey said. ‘Sometimes they sold, sometimes it didn’t, but the prices were just moving up at a rate I can’t even explain.'”

“There have been a few instances of ‘buyer remorse’ that these agents have witnessed in the last year from buyers from outside Wyoming who purchased properties without having experienced a Wyoming winter. ‘I’ve talked to one of my Bozeman partners,’ said Mike Fraley, a realtor who primarily sells ranch property in the Buffalo/Sheridan region. ‘He said they’re starting to see some of these guys that came out in the COVID crunch and wanted some room, and now they’re out here and are like, ‘Huh, not quite the amenities and the weather I was thinking.'”

“Cristiano Ronaldo recently unloaded his Trump Tower condo in Manhattan for $7.18 million, a whopping $11.32 million less than he paid in 2015. ‘He definitely paid way too much. So that answers part of the question as to what the loss is,’ says one luxury real estate specialist, Dolly Lenz.”

“Singer Alicia Keys and producer Swizz Beatz Dean, are in contract to sell their 5-acre gated estate in Englewood, NJ. But the hitmakers are taking a major hit on the sale. The property which they bought in two separate transactions for a $12.1 million sum nearly a decade ago was last asking $9.9 million. We hear it is in contract for even less.”

“California home prices continued to decelerate as a shift in the mix of sales toward less expensive homes and seasonal slowdown continued. The statewide median price declined to $765,580 in January, down 3.9 percent from December’s $796,580. ‘The buoyant housing market continues in 2022 as buyers returned from the holiday season to take advantage of the still favorable lending environment before interest rates climb further,’ said C.A.R. President Otto Catrina. ‘With prices leveling off, housing supply showing a slight improvement and competition easing during the off season, buyers who missed the opportunity to buy were eager to get back to the market at the start of the new year.'”

“A housing developer behind prominent schemes in Manchester city centre has collapsed, with the loss of about 40 jobs. Mulbury Homes had been in business since 2010. Headquartered in Lymm, the developer had been ‘struggling with trading and cash flow issues brought by the pandemic, planning delays and rising costs,’ a Kroll statement said. ‘We had a strong pipeline of projects and we were hopeful for the future. We have been working tirelessly to keep the business going but the current conditions left us with no option but to call in administrators. We would like to thank our staff, clients, supply chain and partners for their support to Mulbury Homes in the last 12 years.'”

“The home once shared by the late RTE broadcaster Gerry Ryan and his ex-wife Morah has gone on the market again for €1.595 million. The cost marks a huge €405,000 reduction on the initial asking price for the Dublin 3 property. Morah Ryan put the home, located on the illustrious Castle Avenue in Clontarf, back on the market this week after it was de-listed last year. The stunning five-bed house had initially gone on sale in 2020 for a cool €2 million.”

“The national median selling price dropped to $880,000 in January down by $20,000 compared to December’s $900,000 median. It was the second month in a row it had dropped from its November peak of $920,143. Auckland bore the brunt of the price fall, where the median selling price dropped by $80,000 from $1.28 million in December to $1.20 million in January.”

“Westpac acting chief economist Michael Gordon says the screws have been tightening on the housing market in recent months. ‘Most importantly in our view, fixed-term mortgage rates have risen sharply since September, in anticipation of the OCR hikes the Reserve Bank will deliver over the next couple of years. We’ve long been predicting a turn to moderate house price declines as mortgage rates rise from their lows. The timing of that turn has always been up in the air, and it now looks to be coming sooner than we had assumed.'”

“When China Evergrande Group, the world’s most indebted developer, missed an interest payment in September it thrust the Asian high-yield market into a tailspin. ‘The concept of too big to fail obviously has been proven wrong,’ says Daniel Kim, managing director, head of high-yield capital markets and the commercial bank debt origination team at HSBC. ‘It’s had a very negative contagion effect for the whole sector. For some of these companies being impacted, a lot of it is purely just liquidity issues.'”

“As HSBC’s Kim says, ‘it’s somewhat of a cleansing. Some names shouldn’t have been tapping the bond market for the amounts they were.'”

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Months Of Price Gains Erased

https://www.youtube.com/watch?v=_T--NNwgB3U https://www.youtube.com/watch?v=l7KAEU7t27w https://www.youtube.com/watch?v=q3dNsAkXnBo https://www.youtube.com/watch?v=5CgTdQzPXps

What’s Known As A Ponzi Scheme

https://www.youtube.com/watch?v=9XES1IGINuk https://www.youtube.com/watch?v=idNDv3oDvw8 https://www.youtube.com/watch?v=VG4gElT1q7E

This Post Has 137 Comments

  1. ‘Our fourth quarter net income, a loss of $27 million…When we lost a bid last summer, we sometimes lost by $50,000. But now when we lose, it’s more likely to be like $5,000′

    That’s a lotta losses for a winnah! Glen.

    1. Glen, meet Dolly:

      ‘a whopping $11.32 million less than he paid in 2015. ‘He definitely paid way too much’

      1. I’m sure his “highly trained, ethical” realtor told him so at the time, but he bought in spite of their best efforts to dissuade him from overspending by millions of dollars.

    2. Glenn Kelman: on Bloomberg today….. was the happiest go lucky, gosh darn, aw shucks, guy I’ve ever seen who lost a net $27 Million but wanted you to focus on 3x market share as the stock price took the elevator down 25% today. At least it is better than Rich Barton’s Zillow $880Mil +,- loss and jettison of heads after thinking they could flip homes and make some money because their “proprietary” Algo said it could. Prolly should have asked an Escrow guy how that would work out. … what does escrow know, we just pay the water bill in escrow.

  2. ‘it’s somewhat of a cleansing. Some names shouldn’t have been tapping the bond market for the amounts they were’

    That’s why the lawyers have started their engines Dan.

  4. ‘We had a strong pipeline of projects and we were hopeful for the future. We have been working tirelessly to keep the business going but the current conditions left us with no option but to call in administrators. We would like to thank our staff, clients, supply chain and partners for their support to Mulbury Homes in the last 12 years’

    And thanks for all the fish…

  5. ‘The statewide median price declined to $765,580 in January, down 3.9 percent from December’s $796,580’

    Check out Napa in the table at the end.

    2. yet they say the following. Why are Y/Y prices still so high?

      Home prices continued to grow in all five major regions in the state, with all five of them recording double-digit annual price increases in January.

      1. YOY is now at 9.4%. Here is the number from July. See where it’s headed?

        “July’s statewide median home price was $811,170, up 21.7 percent from July 2020”

  6. ‘The national median selling price dropped to $880,000 in January down by $20,000 compared to December’s $900,000 median. It was the second month in a row it had dropped from its November peak of $920,143. Auckland bore the brunt of the price fall, where the median selling price dropped by $80,000 from $1.28 million in December to $1.20 million in January’

    ‘fixed-term mortgage rates have risen sharply since September, in anticipation of the OCR hikes the Reserve Bank will deliver over the next couple of years. We’ve long been predicting a turn to moderate house price declines as mortgage rates rise from their lows. The timing of that turn has always been up in the air, and it now looks to be coming sooner than we had assumed’

    Nothing about shortages, days on market, red hotness. Cut the gravy and you get crater.

    1. And as we have seen, “fixed term” mortgages in New Zealand are almost always 1 or 2 year terms. Oops to all those people who bought in 2021 with rates at 2.5%. I hope your 4% raise at work can offset the 50-60% increase in your mortgage payment.

      1. offset the 50-60% increase in your mortgage payment.

        Can cutting back on luxuries like food offset a $1,500/mo increase in the mortgage?

        1. “There are more sheep than people in New Zealand”. All they have to do is swap out avocado toast for mutton fat on toast. Yum.

          1. Last time I visited it seemed there were a lot more cows than when I was there previously (10+ years prior). Not as many sheep to be seen on the north island.

    2. The national median selling price dropped to $880,000 in January

      In a country with no industry, that relies on agricultural exports to pay the bills. Houses should cost no more than 100K.

    1. For 2 years now I have heard compelling arguments like Dr Bailey that the virus has never really been proven. .
      Some Scientists/Drs think the virus is cell debris and not a pathogen at all.
      The Rockerfeller based Medical system has prospered by the invisible enemy virus theory all these years .
      A virus that’s dead and can’t reproduce unless it finds a host cell to reproduce in is kind of a weird theory to begin with, at least to me it sounds weird.
      I have heard Drs explain that measles is caused by lack of collagen in growing children that creates temporary sores and its a nutritional deficiency because of growing .
      But the more you see arguments from Dozens of Doctors about the Virus theory , the more you wonder if its valid.
      Now your have the direction of Science going for calling everything a virus, only treatable by a vaccine , whereby the Big Pharmacy manufacturer has no liability on the product.
      I’m just a layman , but it seem to me in watching the Covid Pandemic, I can’t get around the fact the PCR tests were bogus. The 2020 death count in US did not reflect all these extra deaths from Covid.
      So far for 2021 in the roll out year of vaccines you got at least 2 % more deaths by all causes, with insurance Companies declaring 40% more all cause claims , which is bizarre.
      But it doesn’t seem to me these vaccines were either safe or effective, so something is wrong .

  8. Another day…

    ‘China’s troubled developers have given off more signs of strains this week, as one of the nation’s 20 largest builders failed to make two dollar-bond interest payments. Yango Group Co., a Shanghai-based developer that operates in more than 100 cities across the country, didn’t make a combined $27.3 million of interest payments initially due Jan. 15 by a 30-day grace period, according to a Shenzhen stock exchange filing. The company, whose 2021 contracted sales were 19th highest according to China Real Estate Information Corp., said it is facing a temporary cash flow issue and plans to hold a bondholder meeting.’

    ‘The missed coupons come two months after parent Fujian Yango Group Co. said it failed to pay interest a dollar bond.’

    https://finance.yahoo.com/news/china-builders-miss-more-deadlines-012229430.html

    2. China re collapse is the most underreported story right now. It’s huge and will have ramifications larger than any of us can ever predict and the collapse just started.

  9. ‘San Francisco Unified School District Board of Education President Gabriela López, who was voted out of office this week along with two other progressive board members, has claimed that white supremacists are behind the recall.’

    ‘More than 70 percent of parents voted on Tuesday to oust Lopez, Vice President Faauuga Moliga and Commissioner Alison Collins, all three Democrats.’

    ‘Among parents’ main frustrations were that the school board failed to address reopening schools during the pandemic, and instead focused their efforts on renaming 44 because they claimed they were named after ‘problematic’ American icons, like Paul Revere and Abraham Lincoln.’

    ‘But committee members embarrassed themselves after it was revealed they did not consult historians and used inaccurate Wikipedia entries and other non-scholarly sources to determine which personalities were racist and problematic.’

    https://www.dailymail.co.uk/news/article-10525161/The-city-San-Francisco-risen-Three-woke-school-board-members-BOOTED-recall-election-funded-Silicon-Valley-billionaires-focused-renaming-44-schools-instead-reopening-pandemic.html

    1. These progressive democrats have clearly demonstrated that they’re a virulent form of social cancer intent on destroying our culture that embraces meritocracy.

      2. +1

        Once again, the Democrat Party confirms it is the party of white genocide.

        Hating whitey is the Progressive Way.

          3. There is a “B channel” on the air called “Heroes and Icons”. They broadcast Star Trek reruns from all the shows in the evening, so if I have nothing better to do I might watch one. What I have noticed on that channel are two things:

            1) The advertising is aimed squarely and directly at boomers: OTC medication, walking sticks, flip phones, etc.
            2) I don’t recall ever seeing a bi-racial couple in any of the ads. Granted, the advertisers are small potatoes companies, usually those who sell directly to the customer via 800 numbers or websites. But they apparently know better than to peddle wokism to their customers.

            What is interesting is that most people who watch broadcast TeeVee are oldsters, so I wonder why big corps push wokism in their TV ads. I am so alienated by the shows and the ads that I have no idea what the “hit shows” are these days. I just don’t watch broadcast TV (except for an occasional Star Trek rerun). I find regular ads to be grating, but when I see a woke ad, I make a mental note to never purchase from that brand.

    2. has claimed that white supremacists are behind the recall.’
      ‘More than 70 percent of parents voted on Tuesday to oust Lopez,
      Seems slightly unlikely that San Francisco has over 70% of its population that are white Supremacist. According to the numbers I see San Fran is 46% white. No 70% is not possible.
      But of course, she will never own up to how she is the problem!

      2. I remember seeing a 60 minutes episode some 20+years ago, about what is taught in school. Immigrant parents were livid. One parent said something like “the only thing my child knows about Michelangelo is that he was gay”.

        The rot has been in place for decades, it’s just now off the charts and in the open now. Normalizing pedophilia is next up to bat.

      1. The Edmund Fitzgerald was an iron ore vessel that abruptly sank when its cargo became saturated due to several missing vent covers, and the entire mass shifted causing the ship to list and become uncontrollable. It sank once enough water had infiltrated the ship’s cargo hold.

        Gordon Lightfoot – Wreck Of The Edmund Fitzgerald
        https://www.youtube.com/watch?v=FuzTkGyxkYI

    2. If you get bored check out the area around Midland/Odessa from space. It is an amazing sight. I don’t think they have anywhere left to drill another hole.

  14. This is a urine soaked mattress article.

    Washington Post — Americans are tired of the pandemic. But disease experts preach caution — and endure a ‘kill the messenger’ moment (2/17/2022):

    “the easing of the coronavirus pandemic’s grip is hardly a serene moment. The country is witnessing a broad backlash from many conservatives and libertarians, not only against the ongoing mask mandates but against the past two years of public health measures, including school closures, designed to suppress the spread of the virus. As the fall elections approach, the virus itself isn’t the hot topic so much as the response to it.”

    https://archive.fo/Wv9Se

    Kill the messenger? Here’s a better idea, kill some Blue Checkmark Twitter loudmouths. Run them off the road, push them in front of a train, whatever it takes…

    1. “Washington Post —”

      Using Hacked Data, Washington Post, Reuters Go After Doxxed Freedom Convoy Donors

      By Caleb Howe
      Feb 16th, 2022, 4:41 pm
      495 comments

      The identities of individual donors to a GiveSendGo-based fundraiser for the “Freedom Convoy” Canadian trucker protest were exposed by hackers, who distributed lists of their names and addresses. That doxxing has now led to those donors being targeted by the Washington Post, Reuters, and other media outlets — not to mention harassed on social media.

      The Washington Post has written extensively about the hacked data, including names of donors, and has emailed individuals to ask why they donated. Additionally, verified Twitter users from the Post and other outlets have shared the names and email addresses of those donors directly in tweets.

      https://www.mediaite.com/news/using-hacked-data-washington-post-reuters-go-after-doxxed-freedom-convoy-donors/

      1. Targeted assassinations of journalists.

        Not saying we advocate that, just putting it out there…

        The only good globalist is a dead globalist ☠

      1. In all seriousness, I have major respect for Mexico, Central America, and South America for taking out problematic journalists.

        You don’t get to run your fat mouth and ruffle the wrong feathers down there…

        1. You can dis the gooberment. The narcos? Uh, no. Of course, in Mexico even the gooberment is afraid of the drug lords.

    1. Look at it this way: After she fell, if he had merely touched her, he could have been held liable. Even if it was the jab that dropped her.

  16. ‘Our fourth quarter net income, a loss of $27 million, was better than we projected in our last earnings call.’

    Is that considered a favorable result in the online used home peddler space?

  17. “The most extreme example would have been July of 2020,” recalled Cummins. “We sold a nice residential house. And in October of that year, we had a week long cold snap that got to like, 10 below, 15 below, something like that. It was just crazy cold weather for October, and the gal from California that had bought the house in July, turned around and put it on the market in October. So, she didn’t last very long at all.”

    https://cowboystatedaily.com/2022/02/15/what-do-real-estate-agents-do-when-they-run-out-of-inventory/

  18. ‘Sometimes they sold, sometimes it didn’t, but the prices were just moving up at a rate I can’t even explain.’

    Sounds like a bubble about to pop.

    With ever spiraling prices but sales drying up, you have to wonder what kind of revenue flow they have to sustain their business. It seems like a disproportionate share of the people we know who moved out of state over the course of the pandemic were connected to the used home sales industry.

  19. “Cristiano Ronaldo recently unloaded his Trump Tower condo in Manhattan for $7.18 million, a whopping $11.32 million less than he paid in 2015. ‘He definitely paid way too much. So that answers part of the question as to what the loss is,’ says one luxury real estate specialist, Dolly Lenz.”

    Interesting…especially given all the recent news about Trump property values.

    1. I wonder why he unloaded it. He’s still playing for Manchester United and must still be raking in the endorsement bucks. Maybe he decided that NYC had become too much of a sh!thole and decided to just get what he could for the property before it was worth zero.

  20. “The statewide median price declined to $765,580 in January, down 3.9 percent from December’s $796,580.”

    Interesting, as San Diego prices are reportedly still red hot cakes in the Nation’s most overpriced market.

      1. Good grief…from the article:

        ‘The average income in San Diego is just over $68,000, which isn’t enough to buy the average-priced home. Miller says some people use multiple generations of their family to buy and others, well, they’re simply packing their bags.

        “We’ve lost 600,000 people from California in the last 15 months,” Miller said.

        Because San Diego is still such a desirable place to live, both Battiata and Miller say they don’t know if or when the market will shift for buyers.’

        1. California
          Why Are Progressives So Eager To Copy California’s Failed Policies?
          Californians might be voting with their feet, but there’s nowhere they can run and hide if the federal government embraces the same policies.
          Steven Greenhut | 2.18.2022 8:00 AM

          During my recent trip to Phoenix, locals rolled their eyes at all the Californians who are moving there—mostly middle-class residents who are so tired of our state’s chronic mismanagement that they’re willing to abandon the temperate coast for a parched desert. Note to Californians: It’s best to re-register your cars in other states as quickly as possible, to avoid glares from the locals.

          But while the exodus continues—and California’s falling population and outmigration figures reinforce the anecdotal stories—progressives still dream of replicating the state’s political experiment at the national level. Californians might be voting with their feet, but there’s nowhere they can run and hide if the federal government embraces the same policies.

          https://reason.com/2022/02/18/why-are-progressives-so-eager-to-copy-californias-failed-policies/

          1. but there’s nowhere they can run and hide if the federal government embraces the same policies

            Watch “Nomad Capitalist” on youtube. He claims to have renounced his US citizenship, to avoid paying taxes in the the US on his foreign income.

          2. “I hate all of these disgusting Californians moving here” says a long-time resident who moved to Phoenix from Los Angeles in 2018.

        2. One night in Carlsbad a gentleman from Tobago explained to me that most foreign immigrants have 2 versions of their American Dream. One is NYC and the other is Bay Watch (SoCal). A huge mass of humanity is heading to SoCal from all over the world. Many have already arrived turning areas of S.D. into a Star Wars bar vibe. While millions are crossing the southern border no one talks about the other 3 borders which are also wide open. Plane loads arrive daily and they are willing to pool two, three, sometimes four adult incomes to compete against you. You are the frog that is slowly being boiled.

  22. More globalist lies.

    “The pandemic’s greatest source of danger has transformed from a pathogen into a behavior. Choosing not to get vaccinated against COVID is, right now, a modifiable health risk on par with smoking, which kills more than 400,000 people each year in the United States. Andrew Noymer, a public-health professor at UC Irvine, told me that if COVID continues to account for a few hundred thousand American deaths every year—“a realistic worst-case scenario,” he calls it—that would wipe out all of the life-expectancy gains we’ve accrued from the past two decades’ worth of smoking-prevention efforts.

    The COVID vaccines are, without exaggeration, among the safest and most effective therapies in all of modern medicine. An unvaccinated adult is an astonishing 68 times more likely to die from COVID than a boosted one.”

    https://www.theatlantic.com/health/archive/2022/02/covid-anti-vaccine-smoking/622819/

    1. Not counting a person as vaccinated until two weeks after their last shot is rigging the stats. Its appears that the immediate deaths from the vaccine have been occurring in that time period.
      They are just a bunch of fraudsters who rig everything to defraud the public.
      So, anything they can do to cheat to cover up the death and injury to the vaccinated by making it look like its the unvaccinated . Its criminal, along with censorship of any dispute to their toxic vaccines.

      When all evidence tells you you have a product that doesn’t work and its killing and injuring people , you withdraw it from the market. Not this group of criminals that proceed with these harmful injections with Corporate owned news censorship of dispute . There is no valid FDA anymore, they have been captured and corrupted .
      In fact, I would think twice about any medicine or vaccine approved in recent years, or maybe for longer than that. The evidence shows they even rig the trials , so its just a totally corrupt industry.

        1. Don’t you find it utterly odd that so many people “die of covid” within 2 weeks of being jabbed?

          3. It’s not “rigging the stats.”

            There is a huge logical disconnect. We are given stats of people who died that tested positive on the one hand, and people who died who had taken the shot on the other hand.

            If you died within two weeks of taking the shot, you weren’t “vaccinated”? As in you never took the shot?

            It’s hilarious that so many people accept this obvious manipulation.

          6. RPRH,
            Just gotta give you a big thumb’s up on this one.
            Of course it’s about rigging the stats. Anyone with a functioning brain can discern this.

          7. a functioning brain

            In this case, I’m not resorting to name-calling. It’s a conclusion based on overwhelming evidence across subject matters.

          8. If you died within two weeks of taking the shot, you weren’t “vaccinated”? As in you never took the shot?

            I could accept a claim that full immunity is not reached for two weeks, but I would also expect that during those two weeks it would build up gradually. What we are being told is that you have nothing for two weeks and then presto!, you have immunity.

    2. An unvaccinated adult is an astonishing 68 times more likely to die from COVID than a boosted one.”

      So they’re back to saying that the jab is amazing. Of course, the only Narrative they have left is that it will keep you out of the hospital (maybe).

      Like I have said, they aren’t waving any white flags. Even once daily infection rates drop to nearly zero, they will insist that it was the jab that stopped the pandemic and that the only way to keep it from coming back is to get a clot shot booster every year, and if you refuse then you are the problem.

      1. According to the City-Journal.org 2/6/2022: Based on a study by the NIH and published by the CDC the odds of a vaccinated person dying of covid is: about 1 in 150,000.

        Those are roughly the same odds that in the course of a year you will die in a fire, or that you’ll perish by falling down stairs. Going anywhere near automobiles is a bigger risk: you’re three times more likely during a given year to be killed while riding in a car, and also three times more likely to be a pedestrian casualty. The 150,000-to-1 odds of a Covid death are even longer than the odds over your lifetime of dying in an earthquake or being killed by lightning.
        Wait a few years and they will want cars outlawed.

        1. Wait a few years and they will want cars outlawed.

          I think that is coming, with caveats. Cars won’t be outright banned, but they will become increasingly out of reach for the average American.

          Fuel prices will be artificially priced to be out of reach for most people. New ICE car production will be banned and the only choices will be electric cars, which will be heavily taxed.

          Also, look at the current crop of cars. They are chock full of electronics that will start breaking once the car is out of warranty. You won’t be able to go to AutoZone to buy generic parts. If an LED headlamp assembly, some road sensor, the edutainment/control panel or any of the many computers in your car dies it will cost thousands to repair. These cars won’t live to become “beaters”.

          The only ones who will have cars in the future will be the “people who matter”. Everyone else can take the bus with the vibrants.

        2. Based on a study by the NIH and published by the CDC the odds of a vaccinated person dying of covid is: about 1 in 150,000.

          And they are sooooo trustworthy. Why would I not believe them or their numbers?

  23. “Everywhere else, there’s a shortage of organs, and organs are allocated depending on priorities, but in China, the whole system was run as if there was an inexhaustible supply of organs,” said Matas. “All they had to do was show up and pay the money.”

    “They take all the organs, they don’t just take one kidney,” said Kilgour. “So four people died so that this man could get a good kidney. Isn’t that incredible?”

    https://www.theepochtimes.com/a-perfect-crime-leaving-no-survivors-investigators-detail-chinas-lucrative-organ-harvesting-industry_4285980.html

    1. “Despite the defection of Annie and several others, the organ harvesting machinery has continued to operate, attracting transplant tourists from around the world who were lured by promises by Chinese hospitals of speedy organ matches and surgeries.”

      Hipster transplant tourists experience no supply chain snags as their merchandise is still warm to the touch.

    1. I would have taken him seriously if he wasn’t one of the prominent ‘doves’ not long ago.

      Just more Bullard’s bull$hit……

      1. You have to wonder if he’s setting up Mr Market for a positive expectations shock, in case he walks back his hawkish stance within the next few months.

  26. The corrupt, crony capitalist Democrat Old Guard like Comrades Pelosi & Feinstein are going to be forced out by the “progressives” exemplified by Comrade AOC. When you pull the D lever, this is the ideology you’re advancing.

    AOC slams NYPD for arresting 12 shoplifters and claims they’re being branded ‘monsters’ for stealing diapers and baby formula as she blames removal of child tax credits: Crime surges 46.5% in the Big Apple

    https://www.dailymail.co.uk/news/article-10527561/AOC-slams-NYPD-arresting-12-shoplifters-blames-removal-child-tax-credit-crimes.html

    Alexandria Ocasio-Cortez lashed out at the NYPD and her colleagues in Congress over the arrests of 12 shoplifters for stealing diapers and baby formula in the Bronx, saying the removal of the child tax credit by the federal government was to blame for the crime.

    The shoplifters stole $1,800 worth of diapers, baby wipes, laundry detergent and other household goods which are easy to resell on the streets.

    1. The shoplifters stole $1,800 worth of diapers, baby wipes, laundry detergent and other household goods which are easy to resell on the streets.
      They have a lot of kids and they are just being good fathers! Give them and AOC a break.

        1. It’s legal in the Democrat model of living.

          And don’t get me wrong, I also can’t stand GOPe’s and RINO’s, but the Dems are taking thing to a never before seen heights on insanity. As useless as RINO’s are, at least they don’t create this level of destruction.

          As I mentioned in another post, I wonder if footballer Cristiano Ronaldo sold his NYC condo at a huge loss because even he can see what a dystopia the place has become and that it will only get worse.

        1. I don’t understand the blind commiseration for these black thugs who are terrorizing retail businesses and the general public. When are we going to abandon this woke masquerade for common sense?

          1. Don’t think for a second that AOC cares about them. The thugs are merely useful idiots, a tool to help usher in anarcho-tyranny.

  27. Swedish cucks have elected a succession of globalist Quisling regimes that have flooded this once-lovely Scandinavian country with millions of globalist imports from the Middle East and Africa. Now their hosts are reaping the bountiful blessings of multiculturalism in cities that were once the cleanest, safest, and most liveable in the world. Remember, Swedes: Diversity is our strength.

    Swedish hitman is jailed for life for shooting Real Housewives of Cheshire star’s brother on doorstep of their £1.7m Battersea home in front of his screaming wife and their two-year-old son

    https://www.dailymail.co.uk/news/article-10527379/Swedish-hitman-jailed-life-shooting-Real-Housewives-Cheshire-stars-brother.html

    1. Swedish hitman

      As Swedish as a kebab.

      shooting Real Housewives of Cheshire star’s brother on doorstep of their £1.7m Battersea home

      When I was in London in 2017, I was constantly looking over my shoulder, my situational awareness maxxed out. The place felt utterly unsafe.

  29. I wonder what implications this new rule has for future Fed efforts to support risk asset prices?

    Markets
    CNBC TV
    Federal Reserve
    Fed approves rules banning its officials from trading stocks, bonds and also cryptocurrencies
    Published Fri, Feb 18 202212:30 PM EST
    Updated An Hour Ago
    Jeff Cox
    Key Points
    – Federal Reserve officials will be restricted from owning individual stocks, bonds and other assets under rules announced Friday that first were set forth in October.
    – The new regulations extended and ban to cryptocurrencies, which were not included in the previous announcement.
    – They follow a controversy last year in which several officials traded positions just ahead of the Fed’s extraordinary measures to help the economy through the Covid crisis.
    …
    https://www.cnbc.com/2022/02/18/fed-approves-rules-banning-its-officials-from-trading-stocks-bonds-and-also-cryptocurrencies.html

    1. This is how peaceful protests against tyrants invariably end. And Canadians can forget about “voting the bums out”, it just won’t happen.

      I’m hoping for a nationwide truckers strike, but I’m not holding my breath

    2. It’s time for Justine Castro to get Ceausescu’d.

      And if some unhinged 4channer wants to get some “extra credit” for turning in their homework early, and skip the trial and conviction, DO IT.

      F* these globalists, they need to die 🙂

    3. Don’t you know Ben, Trudeau has to destroy freedom and democracy in order to save it! The only path forwards to save Canada is to destroy its banking system, transportation network, small businesses, and the prosperity and livelihoods of its people. What does any of this have to do with Covid-19?

      Answer: Nothing.

  32. Would be a crying shame if all the Free Sh*t Army types who voted for Brandon for the free community college ended up getting drafted into the real Army – the woke Army, I should clarify – and sent to fight the Russkies.

    Massive explosions ‘rip through gas pipeline’ in Russian separatist city of Luhansk in eastern Ukraine hours after car bomb in the region and mass evacuation of 700,000 civilians amid fears of new Putin ‘false flag’ operation to justify invasion

    https://www.dailymail.co.uk/news/article-10527897/Ukraine-crisis-Pro-Moscow-rebels-start-evacuating-civilians.html

    Two powerful explosions have been heard in eastern Ukraine just hours after a car bomb saw the mass evacuation of thousands from the region amid fears of a looming Russian attack in the country.

    The first explosion, which has been ‘linked to a gas pipeline’, was heard in the pro-Russian separatist capital Donetsk in eastern Ukraine while the second was heard in rebel-held Luhansk, one of the main cities in Ukraine’s breakaway region of People’s Republic of Luhansk, according to reports.

    The latests reports comes just hours after an explosion, which was claimed to be a car bomb, rocked Donetsk in what appeared to be the start of Putin’s long-awaited false flag operation.

  33. More on “the jabs will keep you out of the hospital” narrative:

    U.S. Surgeon General Dr. Vivek Murthy announced Friday that he has tested positive for COVID-19.

    Murthy explained in a Twitter thread that he, his wife and their 5-year-old son have all tested positive, just a few days after their 4-year-old daughter tested positive for COVID. He added that his daughter is “doing ok” and her fevers are starting to improve.

    The U.S. Surgeon General explained that one “major source of peace of mind” has been that he, his wife and their son were all vaccinated and boosted. There are currently no COVID vaccines approved for children under 5.

    “Vaccines are very effective at saving our lives and keeping us out of the hospital. As parents, I can’t tell you how reassuring it is to know we’ll be able to care for our kids even if we get infected,” Murthy wrote.

    As the daily new case count remains in free fall they have to keep beating “the jabs are amazing!” drum or no one will get jabbed again.

    A relative, who I tried to talk out of the jab, had a really bad experience with her booster. The silver lining is that she has said she’s done with the jab and regrets taking it. I just hope no permanent damage was done.

    1. Murthy explained in a Twitter thread that he, his wife and their 5-year-old son have all tested positive, just a few days after their 4-year-old daughter tested positive for COVID.

      So they all got sick. But remember kids! The Jab is AMAZING!

      1. ” The jab is AMAZING ”

        They are just making these claims up that the jab is a symptom reducer and you avoid hospital if you take the jab.
        Where are the TRIALS that prove those claims?
        The vaccine was marketed as a vaccine that prevents getting Covid and transmitting Covid, until it didn’t work .
        These fraudsters pre planned this Pandemic down to the bribes, extortion job threats ,and censorship of news to defraud the public. I don’t know what those injections are, but that ain’t no vaccine.
        Seriously, what could go wrong with making a gene produce a virus particle, and what shuts it off?
        Global populations turned into lab rats . Outrageous!

        1. They are just making these claims up that the jab is a symptom reducer and you avoid hospital if you take the jab.

          It’s the last hill they have left, so they will hang onto it as long as they can. Once Omicron finishes burning out, in just a few more weeks, it will be a tough sell outside of those who mask up while driving alone.

  35. Rand Paul Vows To “Force A Repeal Of The Federal Regulation Mandating Masks”

    https://summit.news/2022/02/18/rand-paul-vows-to-force-a-repeal-of-the-federal-regulation-mandating-masks/

    “We’re sick and tired of the government mandating our behavior and taking our liberty away”

    Senator Rand Paul declared this week that he is already gathering signatures from lawmakers in an effort to force a vote to repeal federal mask mandates on planes.

    In an Newsmax interview, Paul asserted that “what we’ve said [about] the vaccine mandates is, we’re sick and tired of the government mandating our behavior and taking our liberty away, and I’m as mad as the Canadian truckers are.”

    “I want it to end,” Paul continued, adding “There’s no science behind these mask mandates, we’re just punishing our children, let’s end it.”

    1. Sounds reasonable, and there is nothing stopping anyone from wearing two masks while on board, should they want to do so.

    1. WHY??

      A relative’s boss had his late model Ford Exploder totaled in an accident. From what I heard he’s been on a waiting list for a new one for over a month.

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